Over the course of the past couple of weeks we’ve been talking about how the War On Social Security was about to get under way and what happens when countries choose to privatize their systems.
Today we take on another bite-sized chunk of economic analysis: how can you get to a situation where Social Security is financially stable for the next 75 years?
We’ll describe some proposals that are out there—but the big focus of this conversation will be to look at one change that, all by itself, could not only solve the entire funding problem, but could actually allow us to lower the Social Security tax rate, immediately, and still achieve fiscal balance.
“Well, if that’s such a bright idea” you might ask, “why haven’t we adopted it already?”
That’s a great question—and after you hear the proposal, you may well have explanations of your own.